Globe Life Inc. Prices New Baby Bonds

Globe Life Inc (GL) has priced their previously announced junior subordinated debentures with a maturity date in 2061.

The coupon is 4.25%. The issue is investment grade.

Proceeds from the offering will be used to redeem the 6.125% debentures (GL-C) which are callable starting on 6/15/2021.

There will be no OTC trading prior to the issue trading on the NYSE.

The pricing term sheet can be read here.

2 thoughts on “Globe Life Inc. Prices New Baby Bonds”

  1. Nuts! I own GL-C… keep getting called out. Where does it end?

    Luckily I am very aware of call risk and only buy where the YTC is positive… and preferable more than 1%… so more of an annoyance than a disaster.

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